PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

New Technology Coatings for Corrosion Control

Paint and Coatings Industry News

Main News Page


Dow to Buy Rohm and Haas under New Terms

Wednesday, March 11, 2009

Comment | More

The Dow Chemical Company (Midland, MI) announced that it has reached agreement with Rohm and Haas Company (Philadelphia, PA) to permit Dow to close on its acquisition by April 1, 2009, on financial terms substantially altered from the ones originally set in 2008. The agreement resolves litigation Rohm and Haas initiated against Dow on January 26, 2009.

Rohm and Haas’s two largest shareholders have agreed to purchase $2.5 billion in face value of perpetual preferred equity issued by Dow. The Haas Family Trusts will make an investment in an additional $500 million of Dow’s equity. Dow said that it has restructured the transaction to pay the equivalent of $63 per share in cash and $15 per share in face value of preferred equity securities. The financing for the acquisition also includes equity investments of $3 billion by Berkshire Hathaway and $1 billion by the Kuwait Investment Authority (KIA).

According to the Dow, it has also started an aggressive asset divestment program expected to yield $4 billion. Divestments from this program will address the cash shortfall created by the failure of the K-Dow transaction.

Dow is a diversified chemical company, and Rohm and Haas creates and develops solutions and technologies for the specialty materials industry. Both companies make products for high-performance coatings.

More information on this transaction can be found at www.dow.com.

   

Tagged categories: Acquisitions; Dow Chemical Company; Raw materials; Rohm and Haas

Comment Join the Conversation:

Sign in to our community to add your comments.

Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Arch truss treated with Termarust's (HR CSA) in 2003. This steel arch bridge is rust free on all surfaces including the crevice corroded joints and connections.


Axxiom Manufacturing
Schmidt Improves
Portable Blasters

Schmidt's VBS System reduces blowdown intensity, prevents exhaust from damaging floor while using no screens or filters. Reduces sound; Increasing safety.
Call 1-800-231-2085


DeFelsko Corporation
NEW PosiTector
Inspection Kits

PosiTector 6000 Coating Thickness Gage easily converts to a surface profile gage, dew point meter or ultrasonic wall thickness gage with a simple probe change.


DRYCO
Control the Tank with DRYCO

Temporary climate control equipment. Dehumidifiers,
Heaters, A/C, Power, More…
Toll Free: 866-379-2600


Atlantic Design, Inc.
It’s All True!

We custom design equipment; We upgrade existing equipment; We rent equipment; We have the best service in the industry. WE REALLY DO KNOW EQUIPMENT! 866.Call.ADI


ECS/Blast All
ECS DUST COLLECTORS

Immediate Availability & the Best Rental Rates in town... 3,000 to 50,000 cfm dust collectors. Diesel or electric power sources.
Call 800-414-0672 or visit us at www.ecsone.com


DeHumidification Technologies
HUMIDITY PROBLEMS?

DH Tech has the most innovative and reliable equipment available to
control humidity efficiently
and effectively.
IT'S UNDER CONTROL!

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2013, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com